Nov 12 (Reuters) - Champion Iron Ltd CIA.AX :
* FINAL APPROVAL PHASE II & REFINANCING SENIOR CREDIT FACILITY
* UNIT GETS COMMITMENTS FROM CURRENT CREDIT FACILITY SYNDICATE MEMBERS TO INCREASE ITS EXISTING CREDIT FACILITIES
* COMMITMENTS TO RAISE FACILITIES FROM US$200 MILLION TO US$400 MILLION
* BOARD PROVIDED FINAL APPROVAL TO COMPLETE BLOOM LAKE PHASE II EXPANSION PROJECT
* CHAMPION IRON EXPECTS TO FUND PHASE II PROJECT WITH PROCEEDS FROM AMENDED CREDIT FACILITY, $425.8 MILLION CASH ON HAND & ONGOING CASH FLOWS
* EXPECTS REMAINING CAPEX REQUIRED TO COMPLETE PHASE II IS $512.6 MILLION, INCLUDING CONTINGENCIES